Wednesday continues to add gains on the stock market

KARACHI: Despite periodic downturns, Pakistan Stock Exchange (PSX) has maintained an upward trajectory since the start of the current trading week.

Initially the growth came on back of the rally brought by the energy sector companies, but by Wednesday, the index has started to grow as a whole with multiple segments leading charge.

Tuesday adds to stock market gains, but slower

The index opened at 64,454.22 points and had increased to 65,000.12 points by noon, showing 545.90 points increase. Petroleum and telecom companies were prominent performers in the first half of the trading day.

Last week, the index went through severe fluctuations following the geopolitical tensions on Pakistan-Iran border. However, with both countries now resuming diplomatic relations and reinstating the ambassadors the tensions have begun to resolve.

Last week the approval of IMF’s next tranche and Rupee’s recovery lent some strength to the index.